TerraVest Capital To Buy NWP Industries For C$12.6 Mln

(RTTNews) - TerraVest Capital Inc. (TVK.TO) said Tueaday that a wholly owned subsidiary of the company has entered into an agreement to acquire certain assets and liabilities of NWP Industries Inc., a privately-owned Innisfail, Alberta based company mainly focused on manufacturing high quality oil & gas processing equipment for customers in Western Canada .

The purchase price for NWP will be C$12.6 million, consisting of C$10.0 million in cash and C$2.6 million in TerraVest common shares.

TerraVest will use a portion of the cash proceeds from its recent equity offering to fund the acquisition.

The acquisition is expected to close this month.